Search Results
Showing results 1 to 10 of approximately 43.
(refine search)
Working Paper
Estimation of Dynastic Life-Cycle Discrete Choice Models
Soytas, Mehmet A.; Gayle, George-Levi; Golan, Limor
(2015-08-13)
This paper explores the estimation of a class of life-cycle discrete choice intergenerational models. It proposes a new semiparametric estimator. It shows that it is root-N-consistent and asymptotically normally distributed. We compare our estimator with a modified version of the full solution maximum likelihood estimator (MLE) in a Monte Carlo study. Our estimator performs comparably to the MLE in a finite sample but greatly reduces the computational cost. The paper documents that the quantity-quality trade-offs depend on the household composition and specialization in the household. Using ...
Working Papers
, Paper 2015-20
Working Paper
Labor market polarization over the business cycle
Foote, Christopher L.; Ryan, Richard W.
(2014-12-26)
One of the most important long-run trends in the U.S. labor market is polarization, defined as the relative growth of employment in high-skill jobs (such as management and technical positions) and low-skill jobs (such as food-service and janitorial work) amid the concurrent decline in middle-skill jobs (such as clerical, construction, manufacturing, and retail occupations). Middle-skill job losses typically result from outsourcing labor to lower-wage countries or from substituting automated technologies for routine tasks. Economists are now beginning to study how long-run polarization might ...
Working Papers
, Paper 14-16
Working Paper
On Intergenerational Immobility : Evidence that Adult Credit Health Reflects the Childhood Environment
Goodman, Sarena; Volz, Alice Henriques; Mezza, Alvaro
(2017-03)
Using a novel dataset that links socioeconomic background to future credit, postsecondary education, and federal student loan and grant records, we document that, even though it is not and cannot be used by credit agencies in assigning risk, background is a strong predictor of adult credit health. A relationship remains upon inclusion of achievement, attainment, and debt management metrics. These findings reveal a new dimension along which childhood circumstances persist into adulthood and imply that the many important contexts in which credit scores are relied upon to evaluate individuals ...
Finance and Economics Discussion Series
, Paper 2017-032
Working Paper
Explaining Intergenerational Mobility: The Role of Fertility and Family Transfers
Kozlowski, Julian; Daruich, Diego
(2016-11-16)
Poor families have more children and transfer less resources to them. This suggests that family decisions about fertility and transfers dampen intergenerational mobility. To evaluate the quantitative importance of this mechanism, we extend the standard heterogeneous agent life cycle model with earnings risk and credit constraints to allow for endogenous fertility, family transfers, and education. The model, estimated to the US in the 2000s, implies that a counterfactual flat income-fertility profile would-through the equalization of initial conditions-increase intergenerational mobility by ...
Working Papers
, Paper 2018-011
Working Paper
Does Intergenerational Mobility Increase Corporate Profits?
Smolyansky, Michael; Albertus, James F.
(2019-11-20)
We find that firms located in areas with higher intergenerational mobility are more profitable. Building off the work of Chetty and Hendren (2018a and 2018b)?who provide measures of intergenerational mobility for all commuting zones (essentially, metropolitan areas) within the U.S.?we are the first to show the positive association between intergenerational mobility and corporate profitability. Our regressions compare firms in the same industry at the same point in time and fully control for time-varying state-level shocks. As such, our findings cannot be explained by either differences in ...
Finance and Economics Discussion Series
, Paper 2019-081
Report
Underemployment in the early careers of college graduates following the Great Recession
Abel, Jaison R.; Deitz, Richard
(2015-12-01)
Though labor market conditions steadily improved following the Great Recession, underemployment among recent college graduates continued to climb, reaching highs not seen since the early 1990s. In this paper, we take a closer look at the jobs held by underemployed college graduates in the early stages of their careers during the first few years after the Great Recession. Contrary to popular perception, we show that relatively few recent graduates were working in low-skilled service jobs, and that many of the underemployed worked in fairly well paid non-college jobs requiring some degree of ...
Staff Reports
, Paper 749
Working Paper
International trade and labor reallocation: misclassification errors, mobility, and switching costs
Dvorkin, Maximiliano
(2021-12-03)
Over the last few decades, international trade has increased at a rapid pace, altering domestic production and labor demand in different sectors of the economy. A growing literature has studied the heterogeneous effects of trade shocks on workers’ industry and occupation employment and on welfare when reallocation decisions are costly. The estimated effects critically depend on data on workers’ reallocation patterns, which is typically plagued with coding errors. In this paper, I study the consequences of misclassification errors for estimates of the labor market effects of international ...
Working Papers
, Paper 2021-014
Working Paper
Dynamic Labor Reallocation with Heterogeneous Skills and Uninsured Idiosyncratic Risk
Faia, Ester; Shabalina, Ekaterina; Kudlyak, Marianna
(2021-06-10)
Occupational specificity of human capital motivates an important role of occupationalreallocation for the economy’s response to shocks and for the dynamics of inequality.We introduce occupational mobility, through a random choice model with dynamicvalue function optimization, into a multi-sector/multi-occupation Bewley (1980)-Aiyagari (1994) model with heterogeneous income risk, liquid and illiquid assets, priceadjustment costs, and in which households differ by their occupation-specific skills.Labor income is a combination of endogenous occupational wages and idiosyncraticshock. ...
Working Paper Series
, Paper 2021-16
Working Paper
Disappearing Routine Occupations and Declining Prime-Age Labor Force Participation
Tuzemen, Didem
(2019-09-30)
I study the effect of disappearing routine occupations on the decline in the labor force participation rate of prime-age individuals since the 1990s. I use multiple data sources and empirical models to study this relationship. First, I exploit state-level variation and show that the long-term trends of declining routine employment and prime-age labor force participation are highly correlated. Second, I narrow the geographic unit to local labor markets and quantify the causal effect of declining routine employment on the labor market outcomes of prime-age individuals. My results imply that the ...
Research Working Paper
, Paper RWP 19-3
Working Paper
What is the source of the intergenerational correlation in earnings?
Soytas, Mehmet A.; Gayle, George-Levi; Golan, Limor
(2015-08-24)
This paper uses a dynastic model of household behavior to estimate and decomposed the correlations in earnings across generations. The estimate model can explain 75% to 80% of the observed correlation in lifetime earnings between fathers and sons, mothers and daughters, and families across generations. The main results are that the family and division of labor within the household are the main source of the correlation across generation and not just assorting mating. The interaction of human capital accumulation in labor market, the nonlinear return to part-time versus full-time work, and the ...
Working Papers
, Paper 2015-19
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of St. Louis 15 items
Federal Reserve Bank of Chicago 6 items
Board of Governors of the Federal Reserve System (U.S.) 5 items
Federal Reserve Bank of Minneapolis 5 items
Federal Reserve Bank of Atlanta 2 items
Federal Reserve Bank of Boston 2 items
Federal Reserve Bank of Kansas City 2 items
Federal Reserve Bank of New York 2 items
Federal Reserve Bank of San Francisco 2 items
Federal Reserve Bank of Philadelphia 1 items
Federal Reserve Bank of Richmond 1 items
show more (6)
show less
FILTER BY Series
Working Papers 15 items
Working Paper Series 8 items
Finance and Economics Discussion Series 5 items
Opportunity and Inclusive Growth Institute Working Papers 4 items
Review 3 items
Research Working Paper 2 items
Staff Reports 2 items
FRB Atlanta Community and Economic Development Discussion Paper 1 items
FRB Atlanta Working Paper 1 items
Staff Report 1 items
Working Paper 1 items
show more (6)
show less
FILTER BY Content Type
FILTER BY Author
Dvorkin, Maximiliano 5 items
Mazumder, Bhashkar 5 items
Gayle, George-Levi 4 items
Golan, Limor 4 items
Soytas, Mehmet A. 4 items
Abel, Jaison R. 2 items
Bencsik, Panka 2 items
Colas, Mark 2 items
Daruich, Diego 2 items
Davis, Jonathan 2 items
Goodman, Sarena 2 items
Halliday, Timothy J. 2 items
Kudlyak, Marianna 2 items
Molloy, Raven S. 2 items
Smith, Christopher L. 2 items
Tuzemen, Didem 2 items
Wozniak, Abigail 2 items
Albertus, James F. 1 items
Barrero, Jose Maria 1 items
Birinci, Serdar 1 items
Bloom, Nicholas 1 items
Bradbury, Katharine L. 1 items
Brummet, Quentin 1 items
Caliendo, Lorenzo 1 items
Davis, Steven J. 1 items
Deitz, Richard 1 items
Deutscher, Nathan 1 items
Devon, Gorry 1 items
Donangelo, Andres 1 items
Faia, Ester 1 items
Flemming, Jean 1 items
Florida, Richard 1 items
Foote, Christopher L. 1 items
Friedberg, Leora 1 items
Gabe, Todd M. 1 items
Gorry, Aspen 1 items
Gourio, François 1 items
Hobijn, Bart 1 items
Isen, Adam 1 items
Kaila, Martti 1 items
Karahan, Fatih 1 items
Kehrig, Matthias 1 items
Kleiner, Morris M. 1 items
Kozlowski, Julian 1 items
Kurmann, Andre 1 items
Lentz, Rasmus 1 items
Mercan, Yusuf 1 items
Meyer, Brent 1 items
Mezza, Alvaro 1 items
Monge-Naranjo, Alexander 1 items
Nix, Emily 1 items
Owyang, Michael T. 1 items
Palacios, Miguel 1 items
Parro, Fernando 1 items
Potter, Tristan 1 items
Reed, Davin 1 items
Riukula, Krista 1 items
Roys, Nicolas 1 items
Ruder, Alexander 1 items
Ryan, Richard W. 1 items
Sachs, Dominik 1 items
See, Kurt 1 items
Shabalina, Ekaterina 1 items
Shin, Yongseok 1 items
Smolyansky, Michael 1 items
Sun, Wei 1 items
Tasci, Murat 1 items
Trachter, Nicholas 1 items
Volz, Alice Henriques 1 items
Webb, Anthony 1 items
Xu, Ming 1 items
Yuen, C. Y. Kelvin 1 items
http://fedora:8080/fcrepo/rest/objects/authors/ 1 items
show more (68)
show less
FILTER BY Jel Classification
J24 18 items
E24 14 items
J22 7 items
J31 7 items
J63 7 items
J13 6 items
J23 5 items
C13 4 items
F16 4 items
C25 3 items
D31 3 items
F66 3 items
J21 3 items
J61 3 items
J64 3 items
E2 2 items
E32 2 items
I14 2 items
I32 2 items
J01 2 items
R13 2 items
R23 2 items
D12 1 items
D14 1 items
D21 1 items
D22 1 items
D43 1 items
D63 1 items
D83 1 items
D84 1 items
D91 1 items
E12 1 items
E21 1 items
E23 1 items
E25 1 items
E52 1 items
G30 1 items
G32 1 items
H10 1 items
H20 1 items
H56 1 items
I22 1 items
I23 1 items
J10 1 items
J11 1 items
J18 1 items
J2 1 items
J20 1 items
J26 1 items
J32 1 items
J33 1 items
J38 1 items
J40 1 items
J41 1 items
J44 1 items
J68 1 items
J80 1 items
J88 1 items
K0 1 items
K20 1 items
K31 1 items
O33 1 items
R10 1 items
R11 1 items
R21 1 items
R28 1 items
R41 1 items
show more (63)
show less
FILTER BY Keywords
Intergenerational mobility 9 items
labor markets 6 items
human capital 5 items
mobility 4 items
International trade 4 items
Labor market dynamics 4 items
classification errors 3 items
structural estimation 3 items
worker reallocation 3 items
general equilibrium 3 items
Immigration 2 items
Inequality 2 items
Job tenure 2 items
Skills 2 items
United Kingdom 2 items
income 2 items
intergenerational health mobility 2 items
mental health 2 items
migration 2 items
physical health 2 items
underemployment 2 items
Job search 2 items
Labor supply 2 items
Occupational Mobility 2 items
COVID-19 1 items
China’s trade 1 items
Commuting 1 items
Congestion externality 1 items
Corporate profitability 1 items
Credit Health 1 items
Credit Scores 1 items
Discrete Choice 1 items
Discrete Choice Optimization 1 items
Dynamic Roy models 1 items
Employment stability 1 items
Estimation 1 items
Estimation of dynamic game of complete information 1 items
Fertility 1 items
Fiscal impact 1 items
Gentrification 1 items
Great Recession 1 items
Heterogeneous Agents 1 items
Heterogeneous-agent New Keynesian (HANK) model 1 items
Hiring 1 items
Household allocation of resource 1 items
Household environment 1 items
Human capital production function 1 items
Income and Wealth Inequality 1 items
Intergenerational Models 1 items
Job Polarization 1 items
Job loss 1 items
Job to job transitions 1 items
Labor Force Participation 1 items
Labor leverage 1 items
Labor market dynamism 1 items
Labor market fluidity 1 items
Life-cycle dynastic models 1 items
Local labor markets 1 items
Long tenure 1 items
Military service 1 items
Minimum Wage 1 items
New hires 1 items
Non-compete agreements 1 items
Occupational licensing 1 items
Occupational transmission 1 items
PSID 1 items
Parental inputs 1 items
Prime-age Individuals 1 items
Quantity-quality trade-off. 1 items
Regulation 1 items
Retention 1 items
STEM 1 items
Search and Matching 1 items
Socioeconomic Status 1 items
Student Loans 1 items
Survey of Business Uncertainty 1 items
Tenure distribution 1 items
Turnover 1 items
Vacancies 1 items
Vietnam War draft lottery 1 items
Wage contracts 1 items
aggregation 1 items
automation 1 items
business expectations 1 items
career change 1 items
career ladder 1 items
college graduates 1 items
college majors 1 items
early childhood development 1 items
economic geography 1 items
economic inequality 1 items
family income distribution 1 items
family structure 1 items
firm heterogeneity 1 items
frictional labor markets 1 items
income inequality 1 items
input-output linkages 1 items
internal trade 1 items
intragenerational mobility 1 items
job mobility 1 items
labor mobility 1 items
low-wage jobs 1 items
low-wage labor markets 1 items
macroeconomic influences 1 items
manufacturing employment 1 items
minimum wages 1 items
mobility frictions 1 items
monetary policy 1 items
neighborhood change 1 items
optimal contract design 1 items
productivity 1 items
promotion 1 items
reallocation shock 1 items
social mobility 1 items
sorting 1 items
trade costs 1 items
training 1 items
unskilled 1 items
vocational education 1 items
wage dispersion 1 items
wage distributions 1 items
wages 1 items
welfare effects 1 items
work from home 1 items
show more (130)
show less